Oil Search eyes $1bn raising

Original article by Perry Williams
The Australian – Page: 16 : 7-Apr-20

Shares in Oil Search have been placed in a trading halt until 14 April, pending an announcement regarding a capital raising. The oil and gas producer is expected to raise at least $1bn to strengthen its balance sheet in the wake of a sharp fall in the crude oil price. The slump has weighed on Oil Search’s shares, which have fallen in value from more than $7 at the start of 2020 to just $2.73, reducing its market capitalisation to $3.89bn. The new shares may offered at around $2 apiece.

CORPORATES
OIL SEARCH LIMITED – ASX OSH

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s